FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4030-0.0032-0.23%
    USDSGD=X
    1.5691-0.0054-0.34%
    EURSGD=X
    2.0227-0.006-0.29%
    GBPSGD=X
    82.1154-0.0855-0.10%
    SGDJPY=X
    5.5541+0.0134+0.24%
    SGDHKD=X
    2.9854+0.0068+0.23%
    SGDMYR=X
    9,736.1064-13.2334-0.14%
    SGDIDR=X
    4.6877+0.0127+0.27%
    SGDCNY=X
    0.9902-0.0057-0.57%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.50-7.40-0.62%
    GCJ16.CMX
    15.36-0.06-0.40%
    SIH16.CMX
    56.78+1.47+2.66%
    ^XAU
    2.090.00-0.02%
    HGH16.CMX
    29.96+0.27+0.91%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.15-0.10
    ^FVX
    1.74-0.11
    ^TNX
    2.56-0.12
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.33+0.02+4.76%
    N21.SI
    3.70+0.22+6.32%
    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.405+0.065+19.12%
    T4B.SI
    0.475+0.075+18.75%
    Y06.SI
    0.23+0.03+15.00%
    S9B.SI
    0.40+0.05+14.29%
    BJE.SI
    0.144+0.014+10.77%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.05-12.82%
    MN5.SI
    0.118-0.012-9.23%
    AWO.SI
    0.205-0.020-8.89%
    AYL.SI
    0.505-0.045-8.18%
    A05.SI
    0.193-0.017-8.10%
    S71.SI